About the Silver (troy ounce)
Silver has been used as a medium of exchange and a store of value for millennia. Its role as money dates back to ancient civilizations.
The word 'Silver' comes from the Old English 'seolfor'.
Interesting Facts
Industrial and Investment Demand
Silver is unique among precious metals in that it has significant industrial demand (electronics, solar panels) in addition to its role as a monetary and investment asset.
A Volatile Safe Haven
Often considered a 'safe-haven' asset like gold, silver tends to be more volatile due to its dual nature as both a precious metal and an industrial commodity.
Historical Money
For much of human history, silver coins were a primary form of currency, from ancient drachmas and denarii to Spanish dollars that circulated globally.
Historical Timeline
Silver first recorded as a medium of exchange in ancient Near East.
First silver coins minted in Lydia.
Many countries adopt a silver standard, then switch to a gold standard.
Silver remains a valuable commodity and investment asset.
Quick Facts
- ISO Code
- XAG
- Symbol
- oz
- Subunit
- (1/)
- Introduced
- Ancient
Central Bank
- Name
- None (Market-determined)
Economic Data
Exchange Rates
What Affects the XAG Exchange Rate?
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